CASE STUDY
Scouting for new growth opportunities in business banking
included services:
Related industry:
Objective
South Africa’s Standard Bank is Africa’s biggest commercial lender. To maintain its lead position, Standard sought out opportunities to address customer needs in new ways. How could the bank continue to differentiate itself? Which new and growing segments should the bank focus on, and what unmet needs should it address?
Approach
Conducted Jobs to be Done qualitative research with business owners to better understand their business and banking needs
Segmented the market and identified where there was significant opportunity for growth
Developed solutions for the bank that would address the unique unmet needs of South African small business owners
Impact
Our work helped Standard Bank develop a suite of services to support a broad range of entrepreneurs. These new offerings tackled unpredictability, an acute pain point for small business owners in South Africa.
